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Golden Band Resources Update on Greywacke Bulk Sample

SASKATOON, Jan. 8, 2013 /CNW/ - Golden Band Resources Inc. (Golden Band
or Company) (TSXV: GBN; OTCQX: GBRIF) is pleased to report on progress made in development of the Greywacke
deposit. The Greywacke project is part of the La Ronge South Gold
Joint Venture between Masuparia Gold Corporation (TSXV: MAS) (Masuparia) and Golden Band with Masuparia acting as the operator
during the exploration phase.

On December 20, 2012, the joint venture received the necessary approvals
to collect a bulk sample from the Greywacke North deposit. The
objective of the bulk sample program is to gain an understanding of how
the Greywacke ore will process as it is fed through the nearby Jolu
mill, which is owned and operated by Golden Band and located 50
kilometres north of the deposit.

In preparation for taking this bulk sample, the access road to site was
improved, a detailed fall program of channel sampling, verification of
historic core and drill hole locations and sampling of existing core
and preservation of historical drill core was completed (see news
release of December 5, 2012). Under the direction of Golden Band, Taiga
Consultants Ltd. collected mineralized core specimens and delivered
them to Michael Yakimchuk, metallurgist for Golden Band. He submitted
to the Saskatchewan Research Council (SRC) for advanced metallurgical
testing by prior to the bulk sample program. In addition to assaying,
the material was subject to inductively coupled plasma (ICP) total
digestion analysis. Selected analytical results are presented below:

Sample Name

Hole ID

Sample

From(m)

To(m)

Original Samples

OriginalComposite(g/t)

Jolu Fire Assay (g/t)

SRC FireAnalysisAu (ppb)

SRC ICPAnalysisS (ppm)

GBR-GW -01

GW01-045

52352

52.33

54.33

760113 - 760116

14.19

11.67

9,040

99

GBR-GW -02

GW01-045

53000

56.48

59.75

760293 - 760299

1.61

0.67

461

463

GBR-GW -03

GW01-052

52354

72.75

74.25

760260 - 760262

3.21

1.80

2,790

2,370

GBR-GW -04

GW01-052

52363

86.50

88.00

760287 - 760289

10.63

8.50

2,680

3,360

GBR-GW -05

GW01-050

52702

68.12

68.75

760219

0.15

0.07

44

443

GBR-GW -06

GW01-050

52703

68.75

73.75

760220 - 760229

10.60

14.37

32,600

8,200

GBR-GW -07

GW05-082

53011

64.00

65.00

mixed original intervals

10.50

5,970

817

GBR-GW -08

GW05-082

53021

54.00

55.00

mixed original intervals

16.03

9,280

11,900

GBR-GW -09

Head Feed of the Composite Sample 1 from the 4 Drill Holes

7.40

4.43

3,320

6,150

GBR-GW -10

Head Feed of the Composite Sample 2 from the 4 Drill Holes

8.00

4.67

5,990

5,910

ICP Analysis:

Ag ppm

AI203 wt %

Bappm

CaOwt %

Cuppm

Fewt %

K2Owt %

MgOwt %

MnOwt %

Description

Sample Type

GBR-GW-01

7.2

14.7

1060

0.4

72

3.61

3.7

1.3

0.03

GBR-GW-02

1

15.3

1030

1.22

106

5.8

3.4

1.55

0.06

GBR-GW-03

0.9

17.4

672

2.51

144

8.06

3.2

1.66

0.06

GBR-GW-04

1.2

15.4

901

1.38

23

3.18

3.3

0.99

0.03

GBR-GW-05

0.5

16

363

1.8

12

0.94

4.2

0.3

0.02

GBR-GW-06

1.4

15.7

1160

1.48

46

4.81

3.8

1.34

0.03

GBR-GW-07

3.6

14.4

449

0.56

49

3.78

2.9

1.18

0.03

GBR-GW-08

3.8

15.9

761

1.41

42

6.51

2.9

1.89

0.06

GBR-GW-09

1.5

16.7

861

2.04

31

5.44

3.8

2.38

0.06

GBR-GW-10

1.6

16.6

910

2.12

32

5.84

3.9

2.36

0.07

Na2Owt %

Pbppm

Sppm

Srppm

Vppm

ZnPpm

Zrppm

Au Fire Assayppb

Description

Sample Type

GBR-GW-01

3.31

33

99

108

218

347

166

9,040

GBR-GW-02

3.08

16

463

257

105

96

155

461

GBR-GW-03

4.67

14

2,370

243

172

87

191

2,790

GBR-GW-04

3.83

68

3,360

210

83

296

189

2,680

GBR-GW-05

4.43

29

443

137

16

33

16

44

GBR-GW-06

3.02

14

8,200

150

110

92

195

32,600

GBR-GW-07

3.82

348

817

144

97

694

128

5,970

GBR-GW-08

4.3

368

11,900

266

221

284

179

9,280

GBR-GW-09

3.85

86

6,150

227

146

236

164

3,320

GBR-GW-10

3.58

182

5,910

229

147

375

166

5,990

This work confirms a low sulphide content and a weak positive
correlation of gold to elevated Pb, Zn, S and Ag.

Two composite samples were delivered to the facilities of SRC in
Saskatoon for bench scale metallurgical testing as designed by Golden
Band and the SRC. We are pleased to report the results of this test
work as applicable to utilization of the Jolu mill for processing:

Gold recovery of over 93% was achieved when simulating Golden Band's
current processing circuit.

An average of ~80% of the gold was recovered using gravity concentration
techniques, based on the processing of multiple samples.

Golden Band's current grinding and leaching circuit is suitable for
achieving high gold recoveries.

Calculated feed grade of the samples delivered to the bench scale
circuit ranged from 7.4 g/t to 8.0 g/t

The summary excerpt from the "Final Report Lab Scale Test for Gold
Recovery Prepared by Saskatchewan Research Council SRC Publication No.
13455-1C12" is below:

Metallurgical testing sample #1 was made from the samples in pail #1 and
pail #2. Metallurgical testing sample #2 was made from the samples in
pail #3 and pail #4.

Direct head assays indicated 5.4 ppm gold in sample #1 and 6.0 ppm of
gold in sample #2 while the calculated head grades were 7.4 ppm for
sample #1 and 8.0 ppm for sample #2. The discrepancy between the
assayed and calculated head feed gold content indicates the existence
of gold nuggets in the samples. It is difficult to get representative
samples for direct head assays when gold nuggets are in the samples.

There were 17.8% and 17.4% over 150 mesh samples produced when the
sample #1 and #2 were primary milled to 70% passing 200 mesh,
respectively.

The gravity separation using a MD-3 Knelson concentrator was effective
for the Golden Band samples. Of the total gold in the gravity
separation feed, 93.4-93.6% gold was recovered.

Cyanidation recovery was 77.2% for sample #1 and 91.1% for sample #2.
The discrepancy was likely caused by the errors of gold analysis.

The overall gravity recovery was 83.1% for sample #1 and 76.5% for
sample #2 based on the direct feed assay.

The bond ball mill work index was 17.28. The sample was moderately hard
rock.

These bench scale results were favourable to the processing of this
material through the Jolu mill. To confirm and to better assess the
mineralized material, a bulk sample in the order of 15,000 tonnes will
be toll milled this winter. Upon completion of the bulk sample, a
winter drill program is scheduled for the Greywacke North deposit,
which will support completion of the preliminary economic assessment.

In preparation for future production from the Greywacke deposit, the JV
is completing baseline environmental studies necessary for full
environmental permitting. The fall study was completed by Canada North
Environmental Services Limited Partnership; the winter study has been
authorized and is scheduled for January 2013 and the spring and summer
studies are planned for later in the 2013 calendar year.

Mike Jamieson, P.Geol., of Taiga Consultants Ltd., has acted as the
Qualified Person as defined in National Instrument 43-101 for this
disclosure and has approved the technical information contained in this
release.

About Golden BandGolden Band Resources is a gold producer operating in the La Ronge gold
belt in northern Saskatchewan and publicly listed on the TSX Venture
exchange in Canada under the symbol GBN and is traded in the United
States on the OTCQX under the symbol GBRIF. Commercial production was
declared on April 1, 2011 and the Company has production from two
mines, Roy Lloyd and Komis. Processing is at the centrally located Jolu
mill, with a nominal capacity of 650 tonnes per day. The Company has
been actively exploring the La Ronge Gold Belt since 1994 and has
assembled a land package of 870 km2, including 13 known gold deposits and four former producing mines,
being Jolu, Decade, Star Lake and Komis. The Company plans to undertake
aggressive drill programs throughout the La Ronge Gold Project with the
goal of significantly expanding the existing NI 43-101 gold resources
that have been identified to date.

On behalf of the Board of Directors of Golden Band Resources Inc.,"Robson Garden"
A. Robson Garden, President and CEO

Caution Regarding Forward-Looking Information and Statements
This news release includes certain forward-looking statements or
information. All statements other than statements of historical fact
included in this release, including, without limitation, statements
relating to the potential mineralization and geological merits of the
mine properties, estimates of production, costs of production, the
sufficiency and availability of capital and financing and other future
plans, objectives or expectations of Golden Band Resources Inc.
(Company) are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's
plans or expectations include risks relating to the actual results of
current exploration activities, fluctuating gold prices, possibility of
equipment breakdowns and delays, cost overruns, availability of capital
and financing, general economic, market or business conditions,
regulatory changes, timeliness of government or regulatory approvals
and other risks detailed herein and from time to time in the filings
made by the Company with securities regulators available on SEDAR at
www.sedar.com. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated, or intended.
Accordingly, readers should not place undue reliance on forward-looking
information. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether
as a result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.